Facts & Figures
The Indian food and market is the world’s 6th largest
The Indian food retail market is expected to reach US$ 915 billion by 2020
The Indian gourmet food market is currently valued at US$ 1.3 billion and is growing at a CAGR of 20%
42 mega food parks being set up with an allocated investment of USD 2.38 billion
Indian food service industry is expected to reach US$ 78 billion by 2018.
Food industry accounts for approx. 31% of India’s consumption basket
The food processing industry contributes approx 14% of manufacturing Gross Domestic Product (GDP), 13%of India’s exports and 6% of total industrial investment
Some of the major initiatives taken by the Government of India to improve the food processing sector in India are as follows
Facts & Figures
India is expected to be ranked among the top 5 business hospitality markets globally by 2030
Business travel spending in the country is expected to triple until 2030 from US$ 30 billion in 2016
Hospitality is among the top 10 sectors in India to attract the highest FDI
The hotel room requirement in India for another 2 to 3 years is 50,000, which comes in addition to the existing 1,30,000 rooms Pan India
The Indian government has realised the country’s potential in the hospitality industry and has taken several steps to make India a global hub.
In the Union Budget 2017-18, the Government of India announced some initiatives to give a boost to the hospitality sector by setting up of five special zones and infrastructure for the worldwide launch of the Incredible India campaign